MANILA, Philippines – Andrew Tan-led Emperador Incorporated (Emperador) saw its bottom line drop in the 1st half of the year on soft market conditions.
In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, August 9, Emperador reported a net income of P2.7 billion for the 1st half of 2017, down compared to the P3.4 billion seen in the same period last year.
The beverage firm also said its revenues were at P18.1 billion for the period.
"Domestic liquor consumption was softer in the 1st 6 months of this year, but we are hopeful for a better performance in the next 6 months. We believe the domestic market is going through a transition that offers many interesting opportunities," said Emperador president Winston Co in a statement.
"Meanwhile, we are very keen to bring new excitement and drinking experience to the consumers. For the 1st half of this year, the company has committed much resources to bring new exciting products to market both in the Philippines and abroad," he added.